STATE LEADS THE WAY IN BUSINESS INVESTMENT

Written on the 2 February 2012

STATE LEADS THE WAY IN BUSINESS INVESTMENT

THE Sunshine State has recorded the highest levels of investment across the nation according to a new study.

The Deloitte Access Economics December Investment Monitor report shows there are $96.1 billion of projects underway in Queensland. Broader investment projects in Queensland reached an historic high of $187.9 billion, up $4.1 billion on the previous quarter.

Deputy Premier Andrew Fraser perceives the results as proof that investment in Queensland is ‘booming’.

"As we outlined in the mid-year review, business investment in Queensland is expected to rise by around 35 per cent in 2011-12, stronger than the 27.75 per cent growth forecast at Budget time," says Fraser.

"On top of the news that we'll be delivering a budget surplus one year earlier than previously predicted … (the) report shows that the Queensland economy does have a lot to look forward to."

The report also suggests Queensland and Western Australia continue to dominate the project investment landscape, with WA recording the second highest value of projects at $89.5 billion.
"New South Wales and Victoria expect to grow by just over 2 per cent, while Queensland and WA are both in the '4 per cent-plus' club," says Fraser.

"Because of this heavy-lifting, Australia is regarded as a stand-out performer on the international stage in the face of the fallout from the European (debt) crisis.”

 

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